Grown Rogue Closes Convertible Debenture Financing for Gross Proceeds of US$5,000,000
MEDFORD, Ore. – Grown Rogue International Inc. (“Grown Rogue” or the “Company”) (CSE: GRIN) (OTC: GRUSF), a craft cannabis company operating in Oregon and Michigan, announces that, further to its news release on July 4, 2023, it has closed the first tranche of a non-brokered private placement of unsecured convertible debentures (each, a “Debenture”) with an aggregate principal amount (the “Principal Amount”) of US$5,000,000 (the “Offering”). Additionally, on closing, the Company issued to the subscribers under the Offering (each a “Debentureholder”) an aggregate of 13,737,500 common share purchase warrants (the “Warrants”) representing one-half of one warrant for each C$0.24 of Principal Amount subscribed. The Company may, at its option, increase the Offering by an additional US$1,000,000 for gross proceeds of up to US$6,000,000. The Debentures will mature four years from the date of issue (the “Maturity Date”), bear interest at a rate equal to...